Tencent Holdings Stock News

Alibaba Group and Tencent Holdings are preparing to cut tens of thousands of jobs combined this year in one of their biggest layoff rounds as the internet firms try to cope with China's sweeping regul

Tencent Holdings (TCEHY) has dropped below $40 on Tuesday as Chinese equities continue their plunge due to new covid-related lockdowns in China. Dong

Tencent reportedly faces a record fine over rule violations; Paytm was allegedly banned from onboarding new users for similar reasons.

Tencent Holdings ( TCEHY , Financial) ( HKSE:00700 , Financial) is a Chinese tech investment holding company. It owns WeChat, which is sometimes called the "Facebook ( FB , Financial) of China," and i

China''s metaverse is on track to grow into more than a $50 billion market by 2025 but there’s also an increased prospect of the industry getting ensnared in the country’s regulatory dragnet. What Happened: The boom is defined by the successes of applications like Jelly and Honnverse, according to a report by Nikkei Asia. Honnverse allows people to purchase real estate on the Metaverse, while Jelly allows them to create 3D avatars and interact with friends. Some of the properties on Honnverse were flipped for more than $15,000, Nikkei reported, citing local Chinese media. Jelly, developed by Beijing-based news aggregator Yidian Shuyu , replaced Tencent Holdings Limited’s (OTC: TCEHY ) WeChat as the top-ranked free … Full story available on Benzinga.com

A Tencent breakup is a radical but simple way to address mounting regulatory battles. The Chinese titan may be in hot water over money laundering and other financial breaches on its payments-to-messaging WeChat app, the Wall Street Journal reported on Monday. At the same time, censors are also targeting its video-games cash cow, adding to a selloff. Spinning off the latter would be a straightforward way to isolate risks from Beijing.

Just As All Hope Seemed Lost, China Reports Miraqculously Good Economic Data Going into Tuesday, all hope seemed lost in China. First , China reported a whopping 5,154 new covid cases (3,507 new local confirmed Covid cases and 1,647 asymptomatic cases) for Monday, well more than double from the day before, and confirming that the country''s covid troubles - which over the past 48 hours led to the lockdown of Shenzhen and other cities - are only getting worse. So worse, in fact, that questions have emerged: how did China not report more than 100 cases on any one day for two years, and then now - with the Ukraine war raging - Beijing is suddenly locking down key US supply chain arteries. For the past two years, China had at most 50-100 new daily covid cases. Now it''s 5000, and it is shutting down key supply chain arteries that feed the US economy. So bizarre — zerohedge (@zerohedge) March 15, 2022 Second , for the second day in a row, the PBOC fixed the yuan more than 100 pips weaker than expected, as the central bank telegraphs it will no longer tolerate a weak currency, relentless capital inflows be damned, as the country remembers that it is after all, an export-driven mercantilist which above all, needs a favorable exchange rate.

If there’s been one big winner from bristling India-China border tensions, it has been India’s army of app developers.In June 2020, two weeks after the worst fighting in half a century along their shared border, New Delhi took aim at leading Chinese tech firms including Tencent, Alibaba and Baidu, by banning 59 mobile apps. Alibaba owns the South China Morning Post.The ban was part of New Delhi’s economic retaliation for a clash that it blamed China for instigating – an accusation Beijing has…

Chinese tech stock rout deepened, slashing billions of dollars from the likes of Alibaba Group Holding and Tencent Holdings in Hong Kong, on heightened concerns about an industry crackdown, Covid-19 outbreaks, and China’s position on the Ukraine conflict.Losses spiralled after JPMorgan Chase downgraded 28 Chinese internet stocks including Alibaba, Tencent Holdings and Meituan to underweight, calling them “uninvestable” over the next six to 12 months due to rising geopolitical and macro risks,…

It was a another terrible day for Chinese stocks, with not one but several headwinds battering these technology leaders.

Tencent itself has thus far mostly escaped formal regulatory action

Chinese stocks are trading significantly lower Monday amid a COVID-19 outbreak in China''s manufacturing hub, developments between China and Russia in relation to war and regulatory scrutiny of Tencent Holdings Ltd (Pink: TCEHY ). Despite the muddy waters clouding the Chinese markets, O''Shares ETFs chairman Kevin O''Leary is taking advantage of the flash sale and buying shares of Tencent, Alibaba Group Holding Ltd (NYSE: BABA ) and Meituan (Pink: MPNGF ). "Anytime you get an analyst calling multibillion dollar market cap stocks growing in an economy that''s larger than ours … ''uninvestable,'' that''s a buy signal," O''Leary said Monday on CNBC. What Happened: JPMorgan analyst Alex Yao downgraded Alibaba from an Overweight rating to an Underweight rating and lowered the price target from $180 to $65. "We believe Alibaba, as one ... Full story available on Benzinga.com

It was a another terrible day for Chinese stocks, with not one but several headwinds battering these technology leaders.

An analyst's downgrades and geopolitical events have accelerated the sell-off.